October 9, 2018 - The court granted the defendants' motion to dismiss.

June 14, 2018 - A motion to dismiss the second amended complaint was filed.

May 8, 2018 - A second amended complaint was filed.

April 18, 2018 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

December 18, 2017 - A motion to dismiss the amended complaint was filed.

October 17, 2017 - An amended complaint was filed.

August 16, 2016 (Shareholders Foundation) - An investor in shares of SunPower Corporation (NASDAQ:SPWR) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by SunPower Corporation in connection with certain allegedly false and misleading statements made between February 17, 2016, and August 9, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of SunPower Corporation (NASDAQ:SPWR) common shares between February 17, 2016, and August 9, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 17, 2016, and August 9, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that a substantial number of the Company’s customers were adopting a longer-term timeline for project completion, that the Company’s near-term economic returns were deteriorating due to aggressive PPA pricing by new market entrants, that market disruption in the YieldCo environment was impacting the Company’s assumptions related to monetizing deferred profits, that, as such, demand for the Company’s products was significantly declining, that, in response, the Company would implement a manufacturing realignment that would result in significant restructuring charges, that, as such, the Company’s fiscal year 2016 guidance was overstated, and that, as a result of the foregoing, Defendants’ statements about SunPower’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
SunPower Corporation reported that its Total Revenue declined from over $3.02 billion for the 52 weeks period that ended on December 28, 2014 to over $1.57 billion for the 53 weeks period that ended on January 3, 2016 and that its Net Income of $245.89 million for the 52 weeks period that ended on December 28, 2014 declined to a Net Loss of $187.02 million for the 53 weeks period that ended on January 3, 2016.
‘
On August 9, 2016, SunPower Corporation announced its second quarter 2016 financial results. While the Company met expectations on certain financial figures, SunPower also forecast poor performance in the coming quarters. SunPower Corporation stated in relevant part, “we see a number of near-term industry challenges, primarily in our power plant segment, that we expect to impact our business and financial performance in the second half of 2016. The extension of the Investment Tax Credit, as well as the bonus depreciation credit, while beneficial to the long-term health of the industry, has reduced the urgency to complete new solar projects by the end of 2016, with many customers adopting a longer-term timeline for project completion. Additionally, near-term economic returns have deteriorated due to aggressive PPA pricing by new market entrants, including a number of large, global independent power companies.”

Shares of SunPower Corporation (NASDAQ:SPWR) declined from $30.77 per share in December 2015 to as low as $10.05 per share on August 11, 2016.